Income Tax

Learn more about TDS, including what is TDS, how to calculate TDS on your wage, and why TDS is deducted from your income.

The Income Tax Act, 1961 has separate provisions for taxes on individuals, associations, and companies. One such provision for companies is the Minimum Alternate Tax (MAT).

Are you among the ranks of willing entrepreneurs ready to take up a new challenge? It might just be the best time to ride into the start-up horizon in India.

Even a few years back your hotel bill would show a charge under the category of ‘luxury tax’. But you won’t find any such term in such receipts these days.

Are you an Indian taxpayer? Find out the most common mistakes that creep in while filing income tax returns. This will help you steer clear of them.

Come the Union Budget season, Indians will eagerly wait for any news relating to the Income Tax Act. Most people are not very happy about having to pay income tax.

Saving tax is a concern for both salaried and non-salaried taxpayers. To overcome this, nowadays most people take the investment route to save tax. One such popular tax saving investment option is the equity-linked saving scheme (ELSS).

Form 26AS is a consolidated statement of the taxes you have already paid in the financial year and refunds due to you. You can download the statement from the Income Tax website (or TRACES website

Gain a comprehensive understanding of advance tax and its implications in the realm of income taxation. Discover the essence of advance income tax, its significance in meeting tax obligations, and the categories of individuals and entities obligated to pay it. Uncover the nuances of advance tax penalties and interest, ensuring compliance and avoiding unnecessary financial burdens.

The numerous rules and regulations and income tax forms can still confuse the most seasoned taxpayers. Let us decipher one such form associated with income tax—let's decode Form 16.